Dividend Policy / Dividend History

Our basic policy is to continue to pay a stable dividend while securing the necessary internal reserves for future business expansion and strengthening the management structure to improve shareholder value over the medium to long term. Rather than the payout ratio, we focus on a stable dividend in terms of the actual amount, which is why we have adopted DOE^* as a new KPI. The reason for this adoption is to show shareholders that, in principle, the dividend amount will not fall below the lower limit if shareholders' equity remains constant, and that if shareholders' equity increases, the minimum dividend amount will increase. In the medium-term management plan (fiscal year ending March 31, 2023, to fiscal year ending March 31, 2025), we aim to achieve a DOE of over 3.0% in the final year.

Dividends on equity=(Annual dividend per share/Equity per share)×100